Susan Electricals India IPO: ₹70.38 Crore SME Issue Set to Open for Bidding from June 11 Susan Electricals India IPO Opening June 11 2026: ₹70.38 Crore SME Issue Set To Open For Bidding

Mumbai, June 10: Susan Electricals India is set to enter the primary market on Thursday, when its ₹70.38 crore initial public offering opens for subscription. The SME issue will remain available for bidding until June 15 and is proposed to list on the BSE SME platform later this month, according to the company’s offer documents. 

The public offering combines a fresh issue with an offer-for-sale component. Most of the capital being raised will come through the fresh issue, while a smaller portion represents shares being sold by existing shareholders. According to the red herring prospectus, the company plans to raise approximately ₹60.22 crore through the issuance of new shares, alongside an offer for sale aggregating around ₹10.16 crore. 

At first glance, the transaction looks like a routine SME listing. Dig a little deeper, though, and it reflects a business operating in a segment that has quietly benefited from rising investment across India’s power transmission and distribution network. 

Price Band Fixed At ₹120–₹127 Per Share 

Susan Electricals has fixed the IPO price band at ₹120 to ₹127 per equity share. 

Investors will be able to place bids within this range once the subscription window opens on June 11. At the upper end of the band, the issue size works out to ₹70.38 crore. 

The offer comprises 55.42 lakh equity shares, including the portion reserved for the market maker. The issue follows the book-building route, a mechanism through which investors submit bids within a specified price range before the final issue price is determined. 

Unlike fixed-price issues, book-built offerings allow companies to gauge investor demand and arrive at a market-driven price discovery process. 

Fresh Issue Accounts for Majority of The OfferFresh Issue Accounts For Majority Of The Offer 

The IPO consists of both a fresh issue and an offer for sale. 

The fresh issue comprises approximately 47.42 lakh equity shares, while 8 lakh shares are being offered through the OFS route. Funds raised through the fresh issue will accrue to the company and may be deployed toward objectives outlined in the prospectus, whereas proceeds from the offer for sale will go to the selling shareholders. 

After accounting for the market maker reservation, the net issue available to public investors stands at 50.84 lakh shares. 

It’s a structure commonly seen in SME offerings where companies seek growth capital while allowing partial monetisation by existing stakeholders. 

Business Operates in Electrical Wires, Conductors and CablesBusiness Operates In Electrical Wires, Conductors And Cables 

Established in 2007, Susan Electricals India manufactures aluminium and copper-based winding wires, conductors and power cables used across power transmission, distribution and industrial applications. 

Its products are supplied for use in transformers, motors, alternators and various electrical equipment. The company also manufactures aluminium stranded conductors that are deployed in overhead transmission and distribution networks. 

Beyond conductors, the company produces low-tension and high-tension power cables, including PVC and XLPE insulated variants used by utilities, EPC contractors and infrastructure developers. 

The business may not be widely recognised among retail investors, but its products occupy a critical position within the broader power infrastructure ecosystem. 

Revenue And Profit Expanded Significantly in FY26Revenue And Profit Expanded Significantly In FY26 

Financial figures disclosed in the prospectus indicate a sharp improvement in business performance during the most recent financial year. 

For the year ended March 31, 2026, Susan Electricals reported total income of ₹269.96 crore, compared with ₹136.05 crore in FY25. The increase reflects a substantial expansion in operations over a relatively short period. 

Profit after tax rose to ₹18.25 crore from ₹5.65 crore a year earlier. EBITDA increased to ₹32.08 crore, while the company’s net worth stood at ₹38.48 crore as of March 31, 2026. 

Those numbers will likely form a key part of the investment discussion during the subscription period, particularly given the pace at which earnings have grown over the past year. 

Reservation Structure for InvestorsReservation Structure For Investors 

The company has allocated shares across investor categories in accordance with SME IPO regulations. 

Qualified Institutional Buyers have been reserved 25.39 lakh shares, representing approximately 49.94% of the net issue. Retail investors have been allocated 17.80 lakh shares, while 7.65 lakh shares have been earmarked for non-institutional investors. 

A separate reservation of 4.58 lakh shares has been set aside for the market maker. 

Institutional participation is often watched closely in SME issues, as it can provide an indication of broader market interest in the offering. 

Minimum Application Size Remains Elevated 

Susan Electricals has fixed the lot size at 1,000 equity shares. 

Retail investors must apply for a minimum of two lots, equivalent to 2,000 shares. At the upper price band of ₹127 per share, the minimum investment requirement works out to ₹2.54 lakh. 

For non-institutional investors, the minimum application begins at three lots or 3,000 shares, translating into an investment of ₹3.81 lakh. 

A lot size represents the minimum number of shares that an investor can apply for in an IPO. SME public issues generally carry larger lot sizes than mainboard offerings, which results in higher minimum investment thresholds. 

Key Dates to WatchKey Dates To Watch 

The IPO is scheduled to open for subscription on June 11, 2026, and close on June 15, 2026. 

According to the tentative timetable disclosed in the offer documents, the basis of allotment is expected to be finalised on June 16. Refunds and credit of shares to successful applicants are scheduled for June 17, while the company’s shares are proposed to debut on the BSE SME platform on June 18, 2026. 

Seren Capital Private Limited is acting as the book-running lead manager to the issue. Mudra RTA Ventures Private Limited has been appointed as the registrar. 

Subscription levels across investor categories will be closely monitored once bidding begins. The response from institutional, non-institutional and retail investors is expected to provide the first indication of market appetite for the offering. 

Source

• https://www.bsesme.com/download/338840/SME_IPO%20InPrinciple/SUSAN_20260228205254.pdf